There are more billionaires than ever before – and Elon Musk is the richest of them all, according to Forbes’ latest billionaires list.
Mr Musk has taken the top spot in the annual list from French luxury goods titan Bernard Arnault, according to the magazine – although the Tesla boss was already top of Forbes’ real-time billionaires list.
The Trump adviser’s net worth grew by 75% to an estimated $342bn (£264.73bn) – with his jump in wealth following big new valuations of SpaceX and his artificial intelligence company xAI, and a 12-month rise in Tesla stock despite its share price plunging recently, Forbes said.
It is Forbes’ 39th annual world’s billionaires list, which the publication describes as “the definitive ranking of the world’s richest people”.
On the list are a record-breaking 3,028 billionaires, up 247 from last year. Between them, they’re worth $16.1trn
Tech bosses dominate the ranking, with all the top 10 spots taken by men.
Image: Mark Zuckerberg, Jeff Bezos, Sundar Pichai and Elon Musk attended Donald Trump’s inauguration. Pic: Reuters
Coming second to Mr Musk is Meta founder Mark Zuckerberg with $216bn (£167.4bn).
He’s followed by Amazon founder Jeff Bezos, worth $215bn (£166.6bn).
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Coming in fourth is Larry Ellison, co-founder of Oracle, the computer tech business, who has a net worth of $192bn (£148.7bn).
The only non-tech boss in the top five is Mr Arnault and his family with $178bn (£137.9bn). They’re at the helm of the luxury goods business LVMH, which owns brands like Louis Vuitton and Moet Hennessy.
Another non-tech boss comes next in the form of investor Warren Buffett with his $154bn (£119.3bn) fortune.
Google founders Larry Page (worth $144bn or £111.6bn) and Sergey Brin (worth $138bn or £107bn) take the seventh and eighth spots.
The only non-American in the top 10, other than Mr Arnault, is Spaniard Amancio Ortega. As founder of the Inditex fashion brand, which owns Zara and Bershka. He’s amassed $124bn (£96bn).
Tenth richest is former Microsoft chief executive Steve Ballmer with $118bn (£91.4bn).
One of the 288 newcomers on this year’s billionaires list is Sundar Pichai, the chief executive of Google parent company Alphabet. His net worth rose to $1.1bn (£850m) as the value of his Google shares increased.
Another notable person on the longer billionaires list is President Donald Trump, whose wealth has doubled to an estimated $5.1bn (£3.95bn) as his social media company Truth Social became a publicly listed company and he sold his own cryptocurrency token.
It’s 5.30am, but the car park outside a laundrette in south central Los Angeles is already bustling.
A woman is setting up a stand selling tacos on the pavement and the sun is beginning to rise behind the palm trees.
A group of seven women and two men are gathered in a circle, most wearing khaki green t-shirts.
The leader, a man named Francisco “Chavo” Romero, begins by asking how everyone is feeling. “Angry,” a few of them respond. “Proud of the community for pushing back,” says another.
Ron, a high school history teacher, issues a rallying cry. “This is like Vietnam,” he says. “We’re taking losses, but in the end we’re going to win. It’s a war.”
Image: Francisco ‘Chavo’ Romero leads a volunteer group, attempting to warn people ahead of ICE raids
This is what the resistance against Donald Trump’s immigration policy looks like here. In the past month, immigration and customs enforcement agents – known as ICE – have intensified their raids on homes and workplaces across Los Angeles.
Since the beginning of June, nearly 2,800 undocumented immigrants have been arrested in the city, according to the Department of Homeland Security. The previous monthly high was just over 850 arrests in May this year.
Image: Police use tear gas against protesters, angry at a recent immigration raid at a farm in Camarillo, California. Pic: AP
Videos have circulated online of people being tackled to the ground in the car park of DIY shops, in car washes and outside homes. The videos have prompted outrage, protests and a fightback.
“Chavo” and Ron belong to a group of organised volunteers called Union del Barrio. Every morning, a group of them meet, mostly in areas which have high immigrant populations.
The day I meet them, they’re in an area of LA which is heavily Latino. Armed with walkie talkies to communicate with each other, megaphones to warn the community and leaflets to raise awareness they set out in cars in different directions.
Image: A volunteer from Union del Barrio shows Sky’s Martha Kelner how they try to stay one step ahead of ICE agents
They’re looking for cars used by ICE agents to monitor “targets”.
“That vehicle looks a little suspicious,” says Ron, pointing out a white SUV with blacked-out windows, “but there’s nobody in it”.
An elderly Latino man is standing on a street corner, cutting fruit to sell at his stall. “He’s the exact target that they’re looking for,” Ron says. “That’s what they’re doing now. The low-hanging fruit, the easy victim. And so that is proving to be more successful for their quotas.”
Image: This man, selling fruit on a street corner in LA, is a potential target of immigration agents
In the end, it turns out to be a quiet morning in this part of LA, no brewing immigration operations. But elsewhere in the city, dawn raids are happening.
ICE agents are under pressure from the White House to boost their deportation numbers in line with Donald Trump’s campaign promise to crack down on illegal immigration.
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Maria’s husband Javier was one of those arrested in LA. He came to the United States from Mexico when he was 19 and is now 58.
The couple have three grown-up children and two grandchildren. But Javier’s work permit expired two years ago, according to Maria and so he was living here illegally.
Image: Maria’s husband Javier was arrested after his work permit expired
She shows me a video taken last month when Javier was at work at a car wash in Pomona, an area of LA. He is being handcuffed and arrested by armed and masked ICE agents, forced into a car. He is now being held at a detention centre two hours away.
“I know they’re doing their job,” she says, “but it’s like, ‘you don’t have to do it like that.’ Getting them and, you know, forcing people and pushing them down on the ground. They’re not animals.”
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Maria wipes away tears as she explains the impact of his absence for the past four weeks. “It’s been so hard without him,” she says. “You feel alone when you get used to somebody and he’s not there any more. We’ve never been apart for as long as this.”
The family have a lawyer and is appealing for him to remain in the US, but Maria fears he will be sent back to Mexico or even a third country.
Image: Maria fears her husband, who has lived in the US for nearly 40 years, will be sent back to Mexico
“I don’t know what to say to my grandkids because the oldest one, who is five was very attached to his papas, as he calls him. And he’s asking me, ‘When is papa coming home?’ and I don’t know what to say. He’s not a criminal.”
The fear in immigrant communities can be measured by the empty restaurant booths and streets that are far quieter than usual.
Image: People in LA are being asked to report sightings of ICE officials so others can be warned
I meet Soledad at the Mexican restaurant she owns in Hollywood. When I arrive, she’s watching the local news on the TV as yet another raid unfolds at a nearby farm.
She’s shaking her head as ICE agents face off with protesters and military helicopters hover overhead. “I am scared. I am very scared,” she says.
All of her eight employees are undocumented, and four of them are too scared to come into work, she says, in case they get arrested. The process to get papers, she says, is too long and too expensive.
Image: Soledad, who owns a Mexican restaurant, plans to hide her illegal workers if immigration officials arrive
“They call me and tell me they are too afraid to come in because immigration is around,” she says.
“I have to work double shifts to be able to make up for their hours, and yes, I am very desperate, and sometimes I cry… We have no sales, and no money to pay their wages.”
There is just one woman eating fajitas at a booth, where there would usually be a lunchtime rush. People are chilled by the raids.
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Soledad says she plans to hide her illegal workers if immigration officials arrive.
“I’ve told them, get inside the fridge, hide behind the stove, climb up where we have a space to store boxes, do not run because they will hunt you down.”
The White House says they’re protecting the country from criminals. ICE agents have been shot at while carrying out operations, their work becoming more dangerous by the day.
The tension here is ratcheting up. Deportation numbers are rising too. But the order from Donald Trump is to arrest even more people living here illegally.
Two people are dead after multiple people were injured in shootings in Kentucky, the state’s governor has said.
Andy Beshear said the suspect had also been killed following the shooting at Richmond Road Baptist Church in Lexington.
A state trooper was earlier shot at Blue Grass Airport in Fayette County on Sunday morning, the Lexington Herald-Leader local newspaper reports.
Mr Beshear has said a state trooper “from the initial stop” and people who were injured in the church shooting are “being treated at a nearby hospital”.
The extent of the injuries is not immediately known.
State troopers and the Lexington Police Department had caught up with the suspect at the church following the shooting in Fayette County, according to Sky News’ US partner network NBC News.
Mr Beshear said: “Please pray for everyone affected by these senseless acts of violence, and let’s give thanks for the swift response by the Lexington Police Department and Kentucky State Police.”
The Blue Grass Airport posted on X at 1pm local time (6pm UK time) that a law enforcement investigation was impacting a portion of an airport road, but that all flights and operations were now proceeding normally.
This breaking news story is being updated and more details will be published shortly.